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Bonds 205: TIGRs, CATS, and LIONs

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1.
Coupon-stripping consists of separating a bond's interest from its _______.
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Principal. Coupon stripping consists of separating a bond's interest from its principal and issuing securities based on each of them separately.
2.
Even though felines were issued by private firms, they were still relatively secure bonds.
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True. Even though they were issued by private firms, these bonds were based on Treasury securities held in escrow.
3.
The units that Treasury-backed zeros are based on represent _______.
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Interest. Interest payments were divided into units as the basis of Treasury-backed zeros.
4.
TIGRs, CATS, and LIONs are acronyms _______.
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Created by brokerage firms. TIGRs, CATS, and LIONs are acronyms created by brokerage firms for securities based on Treasury bonds.
5.
All of the following were benefits of TIGRs, CATS, and LIONs except _______.
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Ownership of a Treasury security. Ownership of a Treasury security was not a feature of the felines, which were securities issued by private firms.